Guests: Kieth HobartSummaryIn this conversation, Joe and Keith Hobart discuss the current trends in mortgage interest rates, comparing fixed and adjustable rate mortgages. They explore the implications of these rates on home financing decisions, the mechanics of adjustable rate mortgages, and the advantages and disadvantages of different mortgage options. The discussion emphasizes the importance of understanding the market and making informed decisions when it comes to mortgages.TakeawaysInterest rates have been higher than in previous years.Adjustable rate mortgages (ARMs) can be beneficial for short-term homeowners.Fixed rate mortgages provide stability but may come with higher payments.Understanding the caps on ARMs is crucial for managing risk.Interest rates fluctuate daily, similar to the stock market.Locking in a mortgage rate is essential once under contract.15-year mortgages save on interest but require higher monthly payments.Homeowners can create their own 15-year plan with a 30-year mortgage.Market conditions influence the availability and pricing of ARMs.Consulting with a mortgage professional is key to navigating options.Thank you for listening to RealTalk! Don’t forget to like and subscribe, and follow Joe on Instagram (@seattlesagent) for the latest videos. And don’t forget to check out The Seattle Experience with Joe Sheldon podcast on YouTube or your favorite podcast app. For more information about Joe, or to work with Joe, visit www.myseattlesearch.com.